Director of Revenue Recognition

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JOB DESCRIPTION

Job #:

15803

Status:

Inactive / Filled

Title:

Director of Revenue Recognition

Job Location:

Washington, DC

Base Compensation:

$95,000 — $140,000

Total Compensation:

$115,000 — $165,000

Employment Type:

Full Time / Direct Hire

Job Categories:

Accounting

WHY IS THIS A GREAT OPPORTUNITY?

Newly created role. Opportunity to help create structure, policies, and make an impact on company growth. Supported by publicly traded parent company with strong cash flow. Exposure to senior executives and influence decision making.

JOB DESCRIPTION

Develops and implements revenue recognition policies and procedures in conformance with current FASB and SEC guidance including ASC 985-605 Software: Revenue Recognition and ACS 605-25 Multiple-element Revenue Recognition. Fully manages compliance of revenue recognition process with GAAP and company standards (such as VSOE, TPE and BESP). Reports to the Corporate Controller & CAO but coordinates and cooperates with subsidiary management including President, CFO, EVP Sales, etc. Reviews customer contracts for revenue recognition implications and may assist with structuring non-standard transaction details. Responsible for complying with Sarbanes-Oxley Section 404 requirement as related to revenue recognition and quarterly reviews and annual year end audit. Manages month-end close activities including assurance of accurate and timely results in cooperation with the general accounting function. Reviews, analyzes and interprets revenue and forecast reports. Selects, develops, and evaluates personnel to ensure the efficient operation of the function. Essential Duties and Responsibilities include the following. Other duties may be assigned. • Document revenue recognition position on all customer arrangements. • Review sales, distribution and marketing agreements to identify accounting issues and to monitor compliance with the company’s revenue recognition policies. • Assist sales and legal teams with contract negotiation by participating in discussion, reviewing draft contracts, and providing revenue recognition recommendations. • Lead cross functional efforts and training with groups outside of corporate accounting, including legal, sales and finance to insure all sources of revenue are properly reviewed for accounting purposes and processed on a timely basis. • Collaborate with legal, sales, operations and finance to evaluate new licensing or subscription models. Evaluate impacts to revenue recognition and communicate key risks to accounting management. • Maintain and update internal Sarbanes Oxley documentation for revenue recognition and support internal audits of related controls. Review and support all revenue recognition disclosures in all SEC filings. • Create detailed revenue reporting as needed for management purposes. • Monitor industry/regulatory changes with respect to revenue recognition, and develop new processes and policies to accommodate accordingly. • Manage the proper recognition and application of customer arrangements in the company’s accounting systems and supporting information systems. • Coordinate changes in required information systems to support the company’s revenue recognition policies and procedures. • Ensure that revenue is reported accurately for proper commission calculations; review changes to commission plans to ensure they are accounted for correctly. • Extensive travel to subsidiary in year one required while developing and implementing program at subsidiary; thereafter travel required to subsidiary at least quarterly. • Perform other duties and projects as assigned.